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Barclays Bank PLC Jan 02
Standard & Poors, Jan 2002
Abstract
The ratings on Barclays Bank PLC reflect its high income levels, satisfactory capital adequacy, and good U.K. market position. Profitability is strong on an international basis, although it has historically moved in line with U.K. economic performance. Recent rebounds in profitability have been due to management actions as well as favorable economic conditions, which should leave Barclays better able to manage the impact of the current global downturn. Barclays' alliance with Legal & General Group PLC (AA/Stable/A-1+) provides good flexibility and is in line with Barclays' strategy to strengthen its position in key segments of the U.K. financial services market where it has been underweight (mortgages and long-term savings). The October 2000 acquisition of Woolwich PLC (AA/Stable/A-1+) addressed the mortgage...
Companies mentioned in this report are: Barclays Bank PLC,Barclays American Corp.,Woolwich PLC,Barclays Global Investors Trust & Banking Co. Ltd.,Barclays Life Assurance Co. Ltd.,Barclays Vida y Pensiones Compania de Seguros S.A.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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